Monthly Nickel Market Report Apr 2024

Content
1. Market Highlights 4
2. Economy and Policy 4
2.1 LME prohibits trading of Russian made metals 4
3. Market Movement 4
3.1 Chinese Market Movements 4
3.1.Asian Metal Copyright3%min CIF China 5 3.Asian Metal Copyright1 Chinese nickel cathode 99.96%min EXW China 4
3.1.Asian Metal Copyright2 International Market Movements 5 3.Asian Metal Copyright2 Norilsk nickel cathode 99.96%min in port China 4
3.1.Asian Metal Copyright4 Grand Green increases nickel sulfate production 6 4.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 4
3.1.Asian Metal Copyright4 China's refined nickel Co＞0.Asian Metal Copyright4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 4
3.1.5 Ferronickel 10%min EXW China 5
3.1.Asian Metal Copyright48% MoM in April 7 5.Asian Metal Copyright6 Ferronickel 1.5%min EXW China 5
3.2 International Market Movements 5
3.2.Asian Metal Copyright2 Philippine lateritic nickel ore 1.Asian Metal Copyright1 Philippine lateritic nickel ore 1.3%min CIF China 5
3.2.Asian Metal Copyright2 Philippine lateritic nickel ore 1.Asian Metal Copyright2 Philippine lateritic nickel ore 1.8%min CIF China 5
4. Company News 6
4.1 Greatpower Technology transforms and upgrades nickel sulfate production equipment 6
4.2 Xi'en New Materials increases nickel sulfate production 6
4.3 Qisheng Metal raises electrowinning nickel output 6
4.4 Grand Green increases nickel sulfate production 6
4.5 Miracle Golden Tiger resumes nickel sulfate production 6
4.6 Yantai Cash suspends electrowinning nickel production 6
4.7 Xinxin Mining resumes electrowinning nickel production 6
4.8 Zhangjiagang United Copper conducts maintenance on crude nickel sulfate production lines 6
4.9 Century Tsingshan Nickel completes maintenance of ferronickel production line 6
4.10 Erament halts nickel mining in New Caledonia 6
5. Producers Statistics 6
5.1 Chinese refined nickel producers' operating rate records 79.13% in Apr 7
5.2 Chinese refined nickel producers' production down by 1.09% MoM in April 7
5.3 Chinese refined nickel producers' stocks down by about 17.48% MoM in April 7
5.4 Chinese nickel sulfate producers' operation rate posts 52.31% in April 7
5.5 Chinese nickel sulfate producers' output up by about 5.8% MOM in April 8
5.6 Chinese nickel sulfate producers' inventory down by about 11.01% MoM in April 8
5.7 Chinese ferronickel producers' operating rate reports 37.16% in April 8
5.8 Chinese ferronickel producers' output down by about 3.565 MoM in April 9
5.9 Chinese ferronickel producers' stocks down by about 6.96% MoM in late April 9
6. Import and Export Statistics 10
6.1 China's ferro-nickel import volume grew 20.39% YoY in Mar 2024 10
6.2 China's refined nickel (Co＞0.Asian Metal Copyright1 China's ferro-nickel import volume grew 20.Asian Metal Copyright005%) import volume grew 46.52% YoY in Mar 2024 11
6.3 China's nickel sulphate import volume increased 123.90% YoY in Mar 2024 12
6.4 China's refined nickel (Co＞0.Asian Metal Copyright Import and Export Statistics 10 6.Asian Metal Copyright005%) export volume increased 239.15% YoY in Mar 2024 12
6.5 China's nickel concentrate import volume declined 27.20% YoY in Mar 2024 13
7. Relevant Industry Movements 14
7.1 NCM and power battery market 14
7.2 Stainless steel market 14
8. Market Outlook for Next Month 14
8.1 Nickel cathode 99.96%min EXW China 14
8.2 Norilsk nickel cathode 99.96%min in port China 14
8.3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 14
8.4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 15
8.5 Ferronickel 10%min EXW China 15
8.6 Ferronickel 1.5%min EXW China 15
8.7 Philippine lateritic nickel ore 1.3%min CIF China 15
8.8 Philippine lateritic nickel ore 1.8%min CIF China 15


.Asian Metal Copyright1 Chinese refined nickel producers' operating rate records 79Asian Metal Copyright